PlayIconNav
BTC
$66,466.45+0.59%
ETH
$3,597.07+1.11%
BNB
$608.78+0.44%
SOL
$148.86+3.07%
XRP
$0.48948073-0.29%
DOGE
$0.13586025-0.41%
CD20
$2,270.32+1.06%
TON
$8.04+1.54%
ADA
$0.41535895+0.74%
SHIB
$0.00002081+0.56%
AVAX
$29.84-0.52%
WBTC
$66,562.22+0.36%
Ad
Finance

Bitcoin Layer 2 Mezo Emerges From Stealth With $21M Raise Led by Pantera

Mezo is a permissionless Bitcoin economic layer that uses a neutral smart contract infrastructure to offer a wide range of applications.

By Will Canny
AccessTimeIconApr 9, 2024 at 11:47 a.m. UTC
(Shutterstock)
(Shutterstock)
  • Venture studio Thesis is announcing Mezo, a bitcoin layer 2 network, out of stealth.
  • Mezo closed a $21 million fundraising led by Pantera Capital.
  • The blockchain allows bitcoin owners to hold their tokens while earning yield.
VolumeMuteUnmute

Filecoin Foundation President on Decentralizing Data Storage

  • U.S. Judge Signs Off on $4.5B Terraform-Do Kwon Settlement; Gensler Speaks on Ether ETF Approval
    01:41
    U.S. Judge Signs Off on $4.5B Terraform-Do Kwon Settlement; Gensler Speaks on Ether ETF Approval
  • Why Bitcoin Is Not Keeping Pace With Nasdaq
    01:11
    Why Bitcoin Is Not Keeping Pace With Nasdaq
  • Mona Founder on Future of the Metaverse
    09:08
    Mona Founder on Future of the Metaverse
  • Fed Sees Just One Rate Cut This Year; CRV Slides as Curve’s Founder Faces Liquidation Risk
    01:49
    Fed Sees Just One Rate Cut This Year; CRV Slides as Curve’s Founder Faces Liquidation Risk

    • Blockchain venture studio Thesis has unveiled Mezo, a Bitcoin layer-2 network, from stealth with a $21 million fundraising round led by Pantera Capital

    The fundraising also involved Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, Asymmetric Ventures and Dan Held, and DCF God, Thesis said Tuesday. Mezo is a "permissionless Bitcoin economic layer that leverages a neutral smart contract infrastructure" to offer a wide range of applications for users, Thesis said. It is designed to amplify the Bitcoin blockchain’s infrastructure and provide cheap and fast transactions by allowing users "to access applications that use Bitcoin for everything, enabling a thriving circular economy," the venture firm said. Mezo will go live with support from Thesis’ bitcoin-backed Ethereum token tBTC, which allows users to get bitcoin into Ethereum’s decentralized-finance (DeFi) ecosystem. “Our goal with Mezo is to extend the Bitcoin network to bring 25% of the world’s economy on-chain – roughly in line with the size of the U.S. economy today,” Matt Luongo, CEO of Thesis and founder of Mezo, said in the release. Mezo allows users to hold their bitcoin while earning a yield for securing the network.

    “Mezo means you can HODL your BTC with purpose, powering the Bitcoin economy, replacing vital online infrastructure, and unlocking the full potential of your BTC,” Luongo added.

    Edited by Sheldon Reback.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Author placeholder image
    Will Canny

    Will Canny is CoinDesk's finance reporter.